I do it all the time. Firewire and USB 2.0 and it's fine. As irishcrazy said, just change where you save the show to, but keep your app installed where it is.
Welcome to my hell of spilling onto another drive... then another... then another... then another... then another... then another... then another... then another... then another... then another... then another... then another... then another... then another... then another... then another... then another... then another... then another... then another... then another... then another... then another...
OH GOD MAKE IT STOP!!!
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